Budget 2017: Paper on how oil super giants evolved in China

Feb 02: For those who want to follow up on the finance minister's idea of an Indian oil & gas super major, the website carries here a fascinating paper on the evolution of the oil super giants in China.8These giants own large chunks of the Chinese economy, from oil fields to towns and cities to hotels and agricultural operations.8They enjoyed immense clout in the Chinese power structure but the relationship between the energy giants and the government has been a story of successive waves of centralisation and decentralization. 8Fundamentally, the Chinese oil and gas industry remains a strategic asset for the government but yet has enjoyed far more autonomy than their Indian counterparts.8They were given room to grow, so much so that they are today the largest oil companies in the world.8Indian oil companies are much smaller in size in comparison to these Chinese majors.Click on Reports for more